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MAKALANI MANAGEMENT COMPANY (PTY) LTD

PRI reporting framework 2020

You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » (C) Implementation: Integration

C) 実施:ESG問題の統合

FI 10. Integration overview

10.1. ESGを従来の財務分析に統合するアプローチを説明してください。

Makalani’s approach to examining and managing ESG risks and potential value creation opportunities into investments made through its funds.  As such, proper ESG assessment will highlight risks (investments to avoid) as well as opportunities (investment that greater potential than what is priced in by the wider market).  Hence, ESG analysis complements traditional investment analysis when making investment or divestment decisions. 

We would never make any investment or divestment decision by only considering financial analysis or only considering ESG analysis.   

 

 

10.2. 投資する債券の各種類に対してESG統合アプローチをどのように調整するのか説明してください。

SSA

We assess over 150 environmental, social and governance factors in conducting our ESG analysis to identify risk and opportunities of particular investments.

For example, we consider some of the following factors as more relevant to SSA:

Environmental: Agriculture, biodiversity, energy resources and management, natural disasters, pollution etc.

Social: Demographics, education, income inequality, health levels, human rights etc.

Governance: Corruption, international relations, financial reporting, regulatory effectiveness, rule of law etc.

社債(金融)

We assess over 150 environmental, social and governance factors in conducting our ESG analysis to identify risk and opportunities of particular investments.

For example, we consider some of the following factors as more relevant to Corporate (Financial) securities:

Environmental: Cimate change, waste management etc.

Social: Income inequality, product responsibility etc.

Governance: Audit practices, incentive structure etc. 

社債(非金融)

We assess over 150 environmental, social and governance factors in conducting our ESG analysis to identify risk and opportunities of particular investments.

For example, we consider some of the following factors as more relevant to Corporate (Non-Financial) securities:

Environmental: Supply chain, air pollution etc.

Social: Health and safety, diversity etc.

Governance: Board independence and expertise, investors rights etc. 

10.3. 補足情報 [任意]


FI 11. Integration - ESG information in investment processes

11.1. ESG情報が、通常、投資プロセスの一部としてどのように使用されるのか記載してください。

当てはまるものをすべて選択してください
SSA
社債(金融)
社債(非金融)
ESG分析をファンダメンタル分析に組み込んでいる
ESG分析が発行体の内部信用評価を調整するために利用される
ESG分析が予想財務業績および将来キャッシュフロー予測を調整するために利用される
ESG分析が発行体の同業グループと比較したランキングに影響する
発行体のESG債スプレッドおよび同セクター企業に対するその相対価値が、すべてのリスクが織り込まれているか否かを把握するために分析される
各種デュレーション/満期の発行体債券へのESG分析の影響が分析される。
感度分析およびシナリオ分析が、ベースケースとESG組み込み証券評価の差を比較する評価モデルに適用される
ESG分析が、ポートフォリオのウェイティング決定に組み込まれている
会社、セクター、国、通貨が、ESGエクスポージャーの変化およびリスク制限の違反についてモニタリングされる
ESGリスクが大きい証券についてポートフォリオのESGプロファイルが検討され、ベンチマークのESGプロファイルと比較して評価される
その他(具体的に記載してください)

11.2. 補足情報 [任意]


FI 12. Integration - E,S and G issues reviewed

12.1. 組織の統合プロセスでESG問題をどのように検討するか示してください。

E(環境)
S(社会)
G(ガバナンス)
SSA

E(環境)

S(社会)

G(ガバナンス)

社債(金融)

E(環境)

S(社会)

G(ガバナンス)

社債(非金融)

E(環境)

S(社会)

G(ガバナンス)

12.2. 組織の統合プロセスでE/S/G要因を検討する方法を詳しく説明してください。

SSA

We assess over 150 environmental, social and governance factors in conducting our ESG analysis, some of which are more relevant to SSA.  This provides our team with an indication of the ESG risk or opportunity which is then used as part of the investment selection and portfolio construction processes.

社債(金融)

We assess over 150 environmental, social and governance factors in conducting our ESG analysis, some of which are more relevant to corporate (financial).  This provides our team with an indication of the ESG risk or opportunity which is then used as part of the investment selection and portfolio construction processes.

社債(非金融)

We assess over 150 environmental, social and governance factors in conducting our ESG analysis, some of which are more relevant to corporate (non-financial).  This provides our team with an indication of the ESG risk or opportunity which is then used as part of the investment selection and portfolio construction processes.

12.3. 補足情報 [任意]

We are happy to provide you with a comprehensive list all of the ESG factors that we use to identify ESG risks and opportunities. 


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